Jay Gould (1836-1892)

Jay Gould showed a precocious talent for moneymaking. In 1860 he began speculating in the railways. His business relations bordered on dishonesty. In 1867 he and Daniel Drew entered into an incredible battle with Cornelius Vanderbilt over the railroads. They sold fraudulent stock in the Erie. In 1869 they tried to corner the gold market, causing the terrible panic of Black Friday. Gould was ousted from the Erie. He turned to the West and bought large blocks of railroad stock, building a transcontinental railroad. He remained unscrupulous to the end.